Hi Troy,

No that is not true. I have known many people who have purchased a house and lived in it for 6-12 months and then rented it out. Once it becomes rented it becomes an IP. Your PPOR is exactly that, the primary place you reside.

Hope this helps []

Hi Steve,
Sorry I haven’t got back to you as I have not been on the forums for a few days.
I am in SE Qld, and I have found someone who helps people do wraps. Here is an email addy if you want to contact them. [email protected]
Their office is in Brisbane but they deal with properties all over QLD.

Hope this helps []

Quote:
Hi my65roses

We…[Read more]

Hi Bear,

We are in the smae position. As we are using our equity in the family home to finance the 20% deposit, anything close to +ve becomes -ve.
We are considering trying a wrap deal to start with as you don’t have any ongoing costs such as rates, insurance etc, and the profits will be saved for a deposit on a rental. This is what we are…[Read more]

Thanks for your advice Tas, Bill & Cobra.

I took your advice, contacted the agent and told them that we had reconsidered. The agent was ok about it as she still hadn’t done up a contract as yet. SO all is well again. PHEW!!!
DOn’t worry we aren’t giving up, but are a bit more wise about doing our sums.

THanks again for your help. []

Thanks Patricia, []

I do want a PM to manage the property once it is tenanted, as we live too far away to keep check on it. But I was interested on how to find the good tenants in the first place. I have heard that PM’s sometimes just put any Tom, Dick or Harry in a house without much diligence at all.
We want to avoid any problems. Will PM’s…[Read more]